Arab Today, arab today jet fuel trader cao\s q3 net profit surges 65
Last Updated : GMT 02:14:28
Arab Today, arab today
Arab Today, arab today

Jet fuel trader CAO\'s Q3 net profit surges 65%

Arab Today, arab today

Arab Today, arab today Jet fuel trader CAO\'s Q3 net profit surges 65%

Singapore - XINHUA

China Aviation Oil (Singapore) Corporation Ltd on Friday reported a net profit of 21.8 million U. S. dollars in the third quarter of 2013, up 65 percent from that of the same period last year. The largest physical jet fuel trader in the Asia Pacific region said the surge in net profit was mainly attributable to higher contribution from its key associated company Shanghai Pudong International Airport Aviation Fuel Supply Company thanks to a one- off credit from the provision of past claims relating to customs duties and value added tax. The supply and trading of jet fuel and trading of other oil products contributed gross profit of 7.1 million U.S. dollars. The group's strategy to diversify its products to include trading of other oil products since 2008 is yielding results, as is "evident from the strong performance of other oil products which buoyed the group's profitability" in the first nine months, said Meng Fanqiu, chief executive officer of the company. The company's jet fuel supply and trading volume in the first nine months of the year remained largely unchanged at 7.85 million tons. Shanghai Pudong International Airport Aviation Fuel Supply Company contributed 36.6 million U.S. dollars of profit to the group in the first nine months, up 39.3 percent, thanks to a one- off credit resulting from the provision of past claims relating to customs duties and value added tax amounting to 11.9 million U.S. dollars. The increased contribution from associates is slightly offset by higher losses recorded for Oilhub Korea Yeosu of 1.3 million U. S. dollars in the first nine months of the year, which is in comparison to the loss of 0.2 million U.S. dollars in the first nine months of 2012. The higher loss was mainly due to the recognition of mark-to-market loss from its foreign currency swap contracts denominated in the won against the U.S. dollar. The company said it is sticking to the long-term goal of becoming a global transportation fuels provider by 2020.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jet fuel trader cao\s q3 net profit surges 65 Arab Today, arab today jet fuel trader cao\s q3 net profit surges 65

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 19:50 2017 Saturday ,18 February

OPEC daily basket price announced for Wednesday

GMT 04:54 2017 Saturday ,18 February

Oil prices slip as high stocks overshadow OPEC cuts

GMT 21:38 2017 Thursday ,16 February

Kuwait Oil Price Down 25 cents to $52.30 pb

GMT 14:40 2017 Thursday ,16 February

OPEC daily basket price announced for Wednesday

GMT 19:14 2017 Wednesday ,15 February

Gasoline, diesel prices increase 100 L.L.
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday